Southern Ispat Ltd has informed that the Board of Directors of the Company at its meeting held on January 15, 2008, inter alia, have taken on record the following:
1. The Board accorded its in-principle approval of the merger of M/s. Kerala Sponge Iron Ltd and the Managing Director is authorised to carry on with the discussions with the Board of Kerala Sponge Iron Ltd and to inform the board regarding the progress of discussions.
2. The Board has authorised the Managing Director to do all the necessary works related to the procurement of raw material to the upcoming Integrated Steel Plant at Kannur.
3. The Board has accorded its approval to change the name of the Company to Southern Ispat & Power Ltd.
1. The Board accorded its in-principle approval of the merger of M/s. Kerala Sponge Iron Ltd and the Managing Director is authorised to carry on with the discussions with the Board of Kerala Sponge Iron Ltd and to inform the board regarding the progress of discussions.
2. The Board has authorised the Managing Director to do all the necessary works related to the procurement of raw material to the upcoming Integrated Steel Plant at Kannur.
3. The Board has accorded its approval to change the name of the Company to Southern Ispat & Power Ltd.
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